Ang Pow Issues...

[2ppaamm]

Not that long … My son is already 16 this year time really flies when you watch the kids grow up.

[MMM]

2ppaamm:

Not that long ... My son is already 16 this year time really flies when you watch the kids grow up.

But for a 7 yr old, they probably still have a long time :lol: Anyway, they still don't have enough $ to buy even 500 shares of citibank :lol:

[raynreg]

17 years is a long shot…you nvr know what’s next and that’s exactly why cash is still king although inflation does make our dollar smaller…

[Funz]

I remember when we turned 18yrs old, our dad handed us our bank books. And in it, there was savings in excess of 10K. All from Ang Baos, rewards and savings from our mthly allowances that we did not spend as well as dad’s monthly contribution into each of our accounts.


For my kids now, DH and I will deposit a sum of money monthly, when their total savings hit a certain amount, I will buy endowments or put some of their savings into term deposit to earn better interests. If all goes well, with the maturity of the endowments, etc, there should be enough to cover their tertiary education or if not enough at least 80-90% covered.

[skunk]

Funz:

I remember when we turned 18yrs old, our dad handed us our bank books. And in it, there was savings in excess of 10K. All from Ang Baos, rewards and savings from our mthly allowances that we did not spend as well as dad's monthly contribution into each of our accounts.

wah so generous ah lol

Me and my 3 brothers, we got nothing at 18/21 yrs old. Everything we wanted to have, we have to fight for it.

[radiantmum]

Funz:

I remember when we turned 18yrs old, our dad handed us our bank books. And in it, there was savings in excess of 10K. All from Ang Baos, rewards and savings from our mthly allowances that we did not spend as well as dad's monthly contribution into each of our accounts.


For my kids now, DH and I will deposit a sum of money monthly, when their total savings hit a certain amount, I will buy endowments or put some of their savings into term deposit to earn better interests. If all goes well, with the maturity of the endowments, etc, there should be enough to cover their tertiary education or if not enough at least 80-90% covered.

Thanks for sharing, I like the idea !

[tutormum]

I buy insurance for my DS when they are born. All their angpows will go into paying for these policies with shortfalls topped up by me. They will get the policies when they have their own families. As the premiums are paid up in about 20 years time, once premiums are no longer required, they'll keep their angpows in their bank accounts until they start work when they will be given the liberty to operate it. DS3 is more fortunate in the sense that his angpow money goes into his bank account since last year. I'm paying for his insurance policy as I feel comfortable financially compared to his older brothers' growing up years. They get to decide what to do with the angpows I give them and most of the time they decide to put in the bank instead of spending. Thank God, they are not spendthrift. :love:

[auntieM]

Thanks for all the great tips!

My DH very KS and have set aside quite a bit for DS.
Luckily, DS very sensible and thrifty(so far).
I put his angpow $ in my account but do keep track of the amount so next time can 'return' him

[twinklestars2]

i was opening up the hongbaos from cny and noticed $5 hongbaos.


anyone know the significance of giving $5 hongbao?

thot only give even no? :?

[KSP]

In chinese angbao, it usually in even number. It’s odd to have odd number.


Try to recall did you visit any Malay-Chinese family. I think they do give in odd number.